In my personal comparison, a huge factor for RDS and against Heroku is something that I have never seen mentioned in these comparisons: you can run multiple databases on a single RDS instance and you can't do that with Heroku.

My company has a bunch of microservices that each need a Postgres database, but none of them are particularly high traffic. We do however need high availability guarantees for all of them, and so Heroku's pricing starts at $200/mo per database.

With RDS, we get adequate performance for a similar total cost (around $300/mo), but get to run about a dozen separate high-availability databases on that same instance, each with their own usernames and passwords. That means significant savings.

(of course you could just share a single Heroku Postgres database and user account between these services, perhaps separating them by scheme, but that wasn't really to my taste.)